Motorbike insurance giant faces uncertain future

A firm which claims to be the UK’s number one provider of motorcycle insurance is facing an uncertain future.

MCE Insurance Limited, which is based in Rushden, Northamptonshire, has posted a notice of appointment to appoint administrators through law firm Womble Bond Dickinson.

MCE’s accounts up to May 31 2022 are overdue, according to Companies House. Meanwhile, several directors of the firm have stepped down in previous months.

The company’s latest available accounts, made up to December 31 2020 show a company in rude health. Turnover for the year was £36.8m, with directors at the time saying they were confident they could grow this by “developing new opportunities in the insurance market”. Profits for the year almost doubled compared to 2019 – up to £7.3m.

Dividends of almost £10m were paid out to shareholders at the end of 2020. At the time the company employed around 220 staff.